1. Field of the Invention
This invention relates to a system that calculates the selling price of presale ballot tickets for which a dividend is paid based upon statistical odds.
2. Description of the Related Art
Various kinds of gambling activities such as horse racing, bicycle racing, dog racing and competitive soccer lot are available. In these gambling activities, ballot tickets are sold before the race or the game begins, and the individuals participating in the gambling activities predict the results of the race or the game and purchase ballot tickets based upon their prediction of the results. If the predicted results coincides with the actual results, the individuals who make such predictions receive a refund of the ballot tickets. The refund is executed based upon the statistical odds (the success rate of refund).
The statistical odds are fixed at the time the sales of the ballot tickets are stopped. Consequently, the nearer the time of purchasing the ballot tickets is to the stopping of the sales of the ballot tickets, the higher the accuracy of the statistical odds. In fact, many people who purchase ballot tickets try to obtain as much information as possible up until the moment the sales of the ballot tickets are stopped so as to predict the results of the race or the game more accurately. Therefore, this gives rise to such a problem that the purchase of ballot tickets becomes concentrated just before the time the sales of the ballot tickets are stopped.
FIG. 1 shows the relationships between time and accuracy of statistical odds, and between time and the unit price of a ballot ticket. The accuracy of statistical odds is lowest at the time the sales of the ballot tickets begin, gradually becomes higher, sharply rises at about the time the sales of ballot tickets are stopped and reaches the peak at the moment sales of the ballot tickets are stopped, as shown in FIG. 1. In the case of horse racing, for example, the accuracy of statistical odds is about 30 percent about 15 minute before the sales are stopped, and sharply rises at a later time than 15 minutes before the sales are stopped, then becomes 100 percent at the time the sales are stopped. This means that the sales of ballot tickets is concentrated for 15 minutes before the sales are stopped. However, the unit price of a ballot ticket is fixed regardless of the lapse of time.
Since purchasers of ballot tickets tend to collect information up to the time near to the time the sales of the ballot tickets are stopped and the unit price of a ballot ticket is always fixed, it is not disadvantageous for them to delay their purchase. It is for this reason that many of the purchasers of ballot tickets delay their purchase of ballot tickets up until the time near to the time sales are stopped, thus resulting in the sales of ballot tickets being concentrated just before the moment sales are stopped.